LME Aluminum to Face Downward Pressure (2016-5-10)-Shanghai Metals Market

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LME Aluminum to Face Downward Pressure (2016-5-10)

Price Review & Forecast 09:43:18AM May 10, 2016 Source:SMM

SHANGHAI, May 10 (SMM) –LME aluminum will face downward pressure from falling crude oil, and move at USD 1,540-1,570/mt on Tuesday. 

SHFE 1607 aluminum will move at RMB 11,750-12,000/mt, testing support at the 60-day moving average. 

In China’s spot aluminum market, spot discounts of RMB 0-20/mt and spot premiums of RMB 0-20/mt are expected over SHFE 1605 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-10)



LME Aluminum to Face Downward Pressure (2016-5-10)

Price Review & Forecast 09:43:18AM May 10, 2016 Source:SMM

SHANGHAI, May 10 (SMM) –LME aluminum will face downward pressure from falling crude oil, and move at USD 1,540-1,570/mt on Tuesday. 

SHFE 1607 aluminum will move at RMB 11,750-12,000/mt, testing support at the 60-day moving average. 

In China’s spot aluminum market, spot discounts of RMB 0-20/mt and spot premiums of RMB 0-20/mt are expected over SHFE 1605 aluminum contract.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-10)